It seems that after aerospace industries merger (Boeing-Mdd, Lockheed-Martin,etc.) now USA are going to do the same with major airlines!
Anyway if AA will take a big stake in NW, the latter cannot merge with Continental as some years ago was rumored.
My opinion is that Delta could merge with Continental in order to contrast UA/US and AA/NW; if you consider the world wide partnership of both DL and CO (I mean Air France and Alitalia) you could easily imagine a big alliance including DL/CO, AF, AZ and Aeroflot.
What do you think about?